§ 27-71-12 - Data collection and participation in national market conduct databases.
SECTION 27-71-12
§ 27-71-12 Data collection andparticipation in national market conduct databases. – The commissioner shall collect and report market data to the NAIC's marketinformation systems, including the complaint database system, the examinationtracking system, and the regulatory information retrieval system, or othercomparable successor NAIC products as determined by the commissioner. Inaddition to complaint data, the accuracy of insurer-specific informationreported to the NAIC to be used for market analysis purposes or as the basisfor market conduct actions shall be reviewed be appropriate personnel in thedepartment of business regulation and by the insurer.
(a) Information collected and maintained by the department ofbusiness regulation shall be compiled in a manner that meets the requirementsof the NAIC.
(b) After completion of any level of market analysis, priorto further market conduct action, the state shall contact the insurer to reviewthe analysis.
(c) A company responding to a commissioner's request toproduce information shall produce it as it is kept in the usual course ofbusiness or shall organize and label it to correspond with the categories inthe demand.
(2) If a commissioner's request does not specify the form orforms for producing electronically stored information, a company responding tothe request must produce the information in a form or forms in which thecompany ordinarily maintains it or in a form or forms that are reasonablyusable.
(3) A company responding to an information request need notproduce the same electronically stored information in more than one form.
(d) Whether through market analysis, market conduct action,or in response to another regulatory request, any information provided inresponse to a data call from the commissioner shall be treated as confidentialand privileged. It shall not be subject to subpoena and shall not be subject todiscovery or admissible in evidence in any private civil action. No waiver ofprivilege or confidentiality shall occur as a result of responding to such datacall.